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Fed Fuels Easing Expectations The US dollar continued to decline over the early European session on Thursday as the sell-off in response to yesterday’s FOMC minutes develops further. The minutes were decidedly dovish, noting that “Many judged additional monetary policy accommodation would be warranted in the near term should these recent developments prove to be
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China’s trade balance tends to rock markets everywhere! So even if you don’t follow the Yuan, this is still an important bit of data to keep track of. The Chinese government has recently been talking up the issue of services exports. And this could change how the world views the Asian giant’s trade policy. With
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Oil prices surged higher yesterday in response to the latest report reflecting a further drawdown in US crude stores. Oil prices initially began to move higher on Tuesday in response to the weekly report from the API. The API report showed a large 8.1 million barrel crude inventories drawdown. On Wednesday, prices then shot up
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IT CAN be horribly difficult to tax tech giants’ profits. They stash their intangible capital, such as intellectual property, in tax havens, booking only low profits elsewhere. There were screaming headlines in 2018 when it was uncovered that Amazon’s British subsidiary paid £1.7m ($2.2m) in corporate tax despite revenues of $11.4bn. Rich countries have haggled
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Luego de que el RBA recortara las tasas en dos sesiones consecutivas, ahora la atención está sobre el RBNZ. Dada la cercanía entre las dos economías, y que sus indicadores económicos han seguido la misma trayectoria, es de esperar que los bancos centrales tengan políticas similares. El RBNZ fue el primer en recortar, pero desde
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After the RBA cut rates twice in a row, all eyes are now on the RBNZ to see if they will follow suit. Given how close the economies are connected, and that the economic figures have been following the same path, it’s not unlikely to expect that the central banks would have similar policies. The
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Urzua Leaves Over Presidential Clashes It’s been a volatile week for the Mexican peso. The currency cratered lower yesterday in response to the shocking resignation of the country’s finance minister Carlos Manuel Urzua Marcias. In a story similar to that of Turkish president Erdogan firing the head of the CBRT, the finance minister had reportedly
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The Pound Sterling continued to struggle and is still trading close to a 2-year trough despite unexpectedly improved growth data. Analysts say that FX traders are concerned that a no-deal Brexit is becoming a stronger possibility under the next prime minister. Moreover, despite the latest data, all signs point to a weakening UK economy which
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